WEE, UAE’s marketplace with fastest product delivery has announced a $10 million pre-Series A round comprising equity and debt from SIG Investment, at a $40 million valuation.
With an exclusive network of trusted partners, WEE empowers consumers in Dubai with the convenience of ordering goods, promising delivery within the hour, and extending to next-day delivery for the rest of the emirates.
“The investment is set to enhance WEE’s standing in the e-commerce sector within the UAE, enabling us to upgrade our logistics capabilities, expedite widespread growth, and fortify our team. Our primary focus will revolve around advancing the fashion category with innovation in the UAE service of partial purchase and fitting as well as highlighting live streamings. We will also introduce new services to the super app ecosystem,” said Anastasia Kim, CEO and cofounder of WEE.
With the infusion of $10 million from SIG Investment, WEE successfully concluded a pre-A round of investments, further fortified by an additional $2 million from existing shareholders. The firm previously secured $6.5 million for expansion in the UAE to scale operations within the UAE and extend its footprint into the GCC region.
Embracing a forward-thinking approach, WEE is poised to develop an expansive ecosystem around its super app, seamlessly integrating shopping, taxi services, payments, and more. Furthermore, WEE is actively exploring the possibility of an IPO in the MENA region, signalling its commitment to long-term sustainability and growth.
“WEE has entered the UAE market recently, but has already been able to win over the audience and offer a unique fast delivery service in the selected time slots. The company understands e-commerce trends and therefore knows what partners need now and how the customer experience will evolve,” added Sami M. Al Mohammad, Group CEO of SIG Investments.
With the UAE e-commerce market projected to surge to $20 billion by 2027, and express delivery accounting for a significant share, WEE is well-positioned to capitalise on this burgeoning market. Leading categories such as cosmetics, pharmaceuticals, flowers, and food products are slated to drive substantial growth, further solidifying WEE’s pivotal role in shaping the future of eCommerce in the region.